Inactive Tutor answered • 02/11/15
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X [(1.03)^16] = $15000
X = $15000/ [(1.03)^16] = $15000 /1.6 = $9347.50
Cacynthia F.
asked • 02/11/15business math
jenny and dan want to save for an RV. they estimate that they will need $15,000 in 8 years. they can get 3% interest compounded semiannually. how much would they need to deposit now in order to have $15,000 in 8 years.
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